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Question 3 Week 5 (7 marks) North-South Pole Company produces two products, a jacket suitable for adventure-seeking people (Spirit) and a jacket for less-adventurous people (Companion). Production and Sales per year Direct labour Direct labour cost Estimated annual manufacturing overhead Direct materials 20,000 units (Spirit) & 5,000 units (Companion) 3.5 hours per unit (both) $32.00 per hour $285,000 $180 per unit (both) Breakdown of overhead rates Activity Cost Pools Machine set-up Sewing Inspection Estimated Overhead $ 40,000 $135,000 $ 25,000 Expected Use of Cost Drivers per Activity 200 37,500 machine hours (MH) 1000 Activity Based Overhead Rates $? per set-up $? per MH $? per inspection The breakdown between the two products for assigning overheads are as follows: Product Spirit Companion No. of Set-ups 105 95 Sewing 23,500 14,000 Inspections 500 500 Required: From the following information, calculate the unit costs for Spirit" and Companion using both the traditional method of costing (i.e. manufacturing overhead rate is based on units produced), and Activity based Costing. (7 marks)